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Official News

Wednesday, 5 February 2014

New Cooperation Memoranda Signed Under Export-Oriented Industrial Policy Strategy

The Industrial Council by the Prime Minister started its regular meeting by summarizing the first results of the export-oriented industrial policy strategy as approved by the Government on December 15, 2011.

First introduced were the industrial indicators for the first nine months of 2013, then the per-sector monitoring-defined target parameters.

Deputy Minister of Economy Tigran Harutyunyan reported that in 2013 Armenian industries produced output worth 1,204.1 billion drams, a 6.8% rise as compared to the same period last year. Commodities to a total cost of 1, 214.4 billion drams were consumed stating an increase of 8.3% over the same period last year, of which exports amounted to 453 billion drams.

The nine-month sales and exports were up in the following areas, in particular:

Pharmaceuticals and biotechnology - target sales volume of USD12mn versus actual sales volume of USD12.6mn, target exports volume of USD7mn per annum versus USD6.7mn in nine months;

Brandy making – the target sales volume rose from 5% to an actual 14.9%, which exceeded the projected level by about 10%, target exports volume of USD135mn per annum versus the actual index of USD125.5mn in nine months, which means that the actual rate of annual exports will exceed the target;

Jewelry - target export volume of USD19.4mn per annum versus the actual nine-month figure of USD15.3mn, while in the primary markets the target exports volume was USD8.3mn against an actual rate of USD8.6mn for nine months.

The Council next discussed the monitoring and methodology system for the Government’s industrial policy strategy-defined relevant per-sector strategies and action plans, which is a system of indicators to monitor and assess the implementation of said strategies.

Prime Minister Tigran Sargsyan highlighted the design of a universal methodology and quality control system applicable to all those sectors seen as priorities under Armenia’s industrial policy strategy.

The discussion was followed by a ceremony of signing cooperation memoranda with the representatives of two other priority branches: jewelry-diamond processing and light industry.

Attended by Prime Minister Tigran Sargsyan, the Government as represented by the Ministry of Economy and the jewelry-diamond processing sector in the face of the Armenia Jewelers and Diamond-Makers Association, the International Association of Armenian Jewelers, manufacturers, educational and research institutions, as well as light industry, represented by the Light Industry Employers’ Association, companies and educational institutions signed memoranda on implementation of relevant per-sector strategies.

On behalf of the Government of Armenia, the document was signed by Deputy Minister of Economy Tigran Harutyunyan, and by the representatives of industry associations and companies for the jewelry-diamond processing and light industry branches.

The memoranda seek to ensure long-term development of jewelry-diamond processing and light industry in Armenia through the provision of internationally competitive products and enhanced international recognition, as well as to promote cooperation between the public and private sectors in tune with the specified development strategies.

The light industry program will help boost the clothing industry, as well as the leather and shoe manufacturing sub-sectors. The jewelry program will help expand exports and develop the diamond-processing, watch-making and gold-ornament manufacturing sub-sectors.

October 2020